Benzinga | Jul 22, 2021 09:06AM EDT

MySize Reports Its MySizeID Business Intelligence Report Increased Revenue Per Visitor, Conversion Rates, Average Order Value For eCommerce Retailers That Implement MySizeID On Their Sites

-MySize Inc.(the "Company" or "My Size") (NASDAQ:MYSZ)(TASE: MYSZ), the developer and creator of smartphone measurement solutions, today announced the results of its 6 month (first six months of 2021) internally generated Business Intelligence Report. The report found that the solution has increased revenue per visitor, conversion rates, and average order value for eCommerce retailers that implemented the MySize solution on their sites. The impact was much more significant on retailers that implement the widget on more than 40% of their product listings.

According to the Report, MySize has helped eCommerce retailers increase their conversion rates by an average of 2.75x when MySize tech was applied to 40% or more of product listings. The solution has provided a significant boost to average order value (AOV), which was up on average by almost 15% when e-commerce retailers implemented MySize for 40% or more of their product listings. As customers shop with the knowledge that they will receive their apparel and footwear in the correct size, MySize's solution strengthens both consumer confidence and eCommerce retailers' bottom lines.

MySizeID empowers retailers to make smarter, AI-backed business decisions, thanks to the rich array of AI-driven actionable insights it provides clients, including user behavior and conversion rates. The sizing solution utilizes retailers' size charts, product tables, GTIN, descriptions, and other relevant details, alongside MySize's patented algorithms, to provide online shoppers with a highly accurate size recommendation. The easy-to-use, plug-and-play widget is seamlessly integrated into eCommerce brands' sites, enhancing customers' online shopping experience and boosting their engagement levels and confidence in the brand.

Users of the MySize app, which leverages sensors already built into customers' smartphones, can instantly obtain accurate clothing sizes in any brand's apparel via their patented algorithm, a unique approach that safeguards user privacy. While browsing apparel online, customers can find out exactly which size of an item is the ideal fit for them, from the comfort of their homes.

The solution has been proven to reduce returns by as much as 50%, and increase average order value by as much as 30%. MySize is a trusted partner of leading brands including Levi's, Speedo, and Boyish Jeans, as well as e-commerce platforms including Shopify, WooCommerce, Bitrix, LightSpeed and more.

"The pandemic has shifted shoppers' preferences towards eCommerce, but retailers still struggle to woo consumers who are hesitant to purchase apparel and footwear sight-unseen, without physically trying on in a fitting room," said Ronen Luzon, CEO of MySize. "Our data proves that the ability to know they're ordering the correct size gives a major source of confidence to consumers, resulting in increased conversion rates and significantly higher value per sale. We are immensely proud of how strongly our product resonates with consumers and its impact on the industry."